MGP Ingredients (NASDAQ:MGPI) Reaches New 1-Year Low – Time to Sell?

by · The Markets Daily

MGP Ingredients, Inc. (NASDAQ:MGPI – Get Free Report) reached a new 52-week low on Friday . The stock traded as low as $65.00 and last traded at $65.38, with a volume of 261290 shares. The stock had previously closed at $81.57.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MGPI shares. Roth Mkm reissued a “buy” rating and issued a $92.00 target price on shares of MGP Ingredients in a report on Thursday, July 25th. Truist Financial reduced their price target on shares of MGP Ingredients from $125.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday. StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Lake Street Capital cut shares of MGP Ingredients from a “buy” rating to a “hold” rating and decreased their price target for the company from $135.00 to $75.00 in a research note on Friday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.50.

Check Out Our Latest Stock Analysis on MGP Ingredients

MGP Ingredients Stock Down 25.5 %

The company has a debt-to-equity ratio of 0.34, a current ratio of 6.44 and a quick ratio of 2.22. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 1.16 and a beta of 0.59. The firm has a 50 day simple moving average of $84.57 and a two-hundred day simple moving average of $80.31.

MGP Ingredients (NASDAQ:MGPI – Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.17. MGP Ingredients had a net margin of 12.18% and a return on equity of 14.98%. The company had revenue of $190.80 million for the quarter, compared to analyst estimates of $189.06 million. During the same period last year, the business posted $1.49 earnings per share. The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. As a group, sell-side analysts expect that MGP Ingredients, Inc. will post 6.25 EPS for the current year.

MGP Ingredients Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.12 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.48 annualized dividend and a dividend yield of 0.79%. MGP Ingredients’s dividend payout ratio is presently 11.09%.

Insider Transactions at MGP Ingredients

In other news, Director Karen Seaberg sold 1,109 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $90.14, for a total transaction of $99,965.26. Following the completion of the transaction, the director now directly owns 134,969 shares of the company’s stock, valued at $12,166,105.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 36.20% of the stock is owned by insiders.

Institutional Trading of MGP Ingredients

A number of institutional investors have recently made changes to their positions in MGPI. CWM LLC increased its stake in MGP Ingredients by 477.9% in the 2nd quarter. CWM LLC now owns 393 shares of the company’s stock valued at $29,000 after buying an additional 325 shares during the last quarter. Isthmus Partners LLC raised its holdings in MGP Ingredients by 2.1% during the second quarter. Isthmus Partners LLC now owns 41,427 shares of the company’s stock worth $31,000 after acquiring an additional 860 shares in the last quarter. Innealta Capital LLC acquired a new position in MGP Ingredients during the second quarter valued at approximately $42,000. LRI Investments LLC acquired a new position in MGP Ingredients during the first quarter valued at approximately $43,000. Finally, Covestor Ltd grew its stake in MGP Ingredients by 23.3% in the first quarter. Covestor Ltd now owns 795 shares of the company’s stock valued at $68,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 77.11% of the company’s stock.

MGP Ingredients Company Profile

(Get Free Report)

MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.

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